Louisiana’s top economic official searching for ‘blue ocean’ businesses.
Stephen Moret, secretary of Louisiana Economic Development (LED) is focusing his efforts on repositioning Louisiana as the next great American state and central to this plan is to target blue ocean industries. He identifies this project as the single most important project the LED is going to pursue and stresses the importance of identifying the next growth opportunities that other states don’t have a grasp on yet instead of competing head-to-head. LED hopes to identify at least one blue ocean industry that would be viable in each region of the state. www.thetowntalk.com, USA, July 2009.
Making the Old New: Organizations need to stay ahead of curve
Executive Director, Claudette Leclerc, at Manitoba Museum was inspired by Blue Ocean Strategy to create a new strategic plan and vision for redefining the museum experience. Leclerc relates to the Cirque du Soleil example in the book. Like Cirque du Soleil she wants to transform the museum experience from being passé, like the circus once was, into something with great community impact that stands apart. Winnipeg Free Press, Canada, July 11, 2009.
Sharks in a Blue Ocean Don’t Bite
This article argues that the advertising industry is suffering during these tough economic conditions and can no longer be content with developing plans that seek to dominate existing markets. Instead the industry must develop an entirely new approach. This is where Blue Ocean Strategy is needed. This article outlines three immediate things, found in the six paths framework that can be done to reconstruct market boundaries. They are as follows: look across the chain of buyers, participate in shaping external trends, and look across alternative industries. MediaPost, USA, July 1, 2009.
Islamic Finance Emerging as Blue Ocean
This article argues that Islamic finance largely survived the crisis thanks to the stable management of assets based on Islamic law and has investors increasingly turning their attention to it as an alternative to Western-style finance, which was rattled by U.S. subprime mortgage trouble. Islamic banks have been less affected than many conventional banks because they are not exposed to losses from investment in toxic assets nor have they been dependent on wholesale funds, as they are prohibited from such activities. Countries like Korea, which are swimming in a red ocean of dependence on the U.S. dollar and investments, have determined that a blue ocean of opportunity lies in Islamic finance as an option for diversification. The Korea Times, Korea, August 30, 2009.
Silicon App swimming in ‘blue oceans’
Sieamp Technologies says that they continue to thrive and survive tough cycles in the economic climate by applying Blue Ocean Strategy. Sieamp’s sister company’s (Silicon Application) first success involved producing Bluetooth headsets for mobile phones locally, something which no major players were doing at the time. The company is now again carving itself another piece of new market space. By leveraging its energy-saving laser LED lighting system, the group wants to ride on the next wave of green technologies. The Business Times, Singapore, July 21, 2009.
Blue Ocean Strategy: Forbes features business leaders talking about the books that influence them
Vineet Nayar, CEO of HCL Technologies, expresses how the book Blue Ocean Strategy is the most influential book he has read to date. He explains how his company has gone on to create new engines of growth, business lines and pricing models; shifted from being volume-driven to value-driven; ventured into new geographies; and indentified SAP as a potential market and growth engine to catapult the company into a position of global leadership. Forbes India, India, August 12, 2009.
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